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It is 400 years since Galileo focused his
telescope on the night skies and discovered the larger moons of Jupiter. Earlier this year, the Galileo National Telescope at La Palma set the present distance record for a gamma ray burst (GRB) at just over 13 billion light years.[1]
Most GRBs are theorized to be brief gamma ray emissions caused by the collapse of the core of a very massive, rapidly spinning star to form a black hole. This creates an enormous burst of energy that is beamed along the spin axis of the core by the intense magnetic fields. If we happen to be in the beam, we may detect it; otherwise we don't notice.
Left: An artist's impression of a gamma-ray burst in action. Credit: NASA/Swift/Cruz-deWilde.
NASA's Swift telescope first detected the GRB (what Swift was designed to do), but the Galileo telescope at La Palma has made
the first distance measurement. The cosmological redshift of this GRB is a record z=8.2, up from a previous highest of 6.7. This is another small step towards the goal of around z=20, where the first stars are thought to have formed. To reach that distance, about 13.5 billion years light travel time, we may have to wait for the James Webb Space Telescope, scheduled to be launched in 2013.
The quoted record distance of 13 billion light years is a little problematic, because that's not the "real distance" of the event - it is just how long the light from the GRB took to reach us, multiplied by the speed of light (c). As will be soon become clear, it is more a measure of how far we look back in time, rather than a measure of how far we look into space. According to cosmologists, that GRB event happened at a distance of only ~3.26 billion light years from us and that black hole is now a whopping ~30 billion light years from us. 
The current understanding is that cosmic expansion has "moved" the black hole in question an astonishing 30 - 3.26 ~ 26.7 billion light years farther away from us during the 13 billion years of its life, at an average recession rate exceeding 2c. One must however not think of the recession rate as speed, because speed is an attribute of something that is or was accelerated. That black hole did not experience any appreciable acceleration; it is just that there is presently about 9 times more space between the black hole and us than when it was born. This is the very essence of cosmic expansion.
Where does the knowledge of these (weird) distances come from? The only cosmic parameter that is accurately known for this GRB is its cosmic redshift: z = 8.2. This value simply means that space between the GRB location and us has expanded by z + 1 = 9.2 times during the time the light took to reach us. Cosmologists reckon they know the expansion dynamics and parameters of the universe fairly accurately for this period, so they can model it and calculate a lot of things. The models say that the remnants of the first ever stars are at z ~ 20, some 36 billion light years from us (or 13.5 billion years of light travel distance).
There are many "cosmological calculators" freely available on the web.[2] I've modified my favorite cosmo-calculator slightly and stuck it onto my own website.[3][4] You can run the calculator from here and experiment a bit. The calculator is fairly self-explanatory - just type 8.2 into the "Redshift of the source" box, click "Calculate" and be enlightened. 
Jorrie
Notes: (If my graphics and text do not coexist well on your browser, try changing your window for wider viewing)
[1] http://science.nasa.gov/headlines/y2009/28apr_grbsmash.htm?
[2] Some web resources for cosmo-calculators: http://www.uni.edu/morgans/ajjar/Cosmology/cosmos.html and http://www.astro.ucla.edu/~wright/CosmoCalc.html
[3] My favorite calculator was written by "Hellfire" on the Physics Forums, assisted in a minor way by myself (posts #18 to #22 of that thread). "Yahoo Geocities" (where the calculator was then located) is unfortunately not a very stable location. Not knowing whereto it might migrate, I've posted a slightly modified version to my own website, where a lot of additional info on the subject are also available.
[4] [Edit May 12th] The original modifications I've made to Hellfire's calculator were just to display more digits, not for accuracy, but rather to show trends when some parameter is changed slightly. I have now also inserted the latest (2009) WMAP data as defaults and also made the radiation energy parameter an input box. The previous default data was of 2007 vintage. You can run the old data from here if you want to compare. [/Edit]
In the calculator, the 3.26 billion light years mentioned above is called the Angular diameter distance, which is approximately the proper distance[5] to where the object was when the light left it (Proper distance then). The 30 billion light years is called the Proper distance now, or also the Line-of-Sight (LOS) Comoving distance of the object.
[5] Proper distance is the light travel distance in the case where there was zero expansion over the light travel time. In other words, if no expansion happened after the event, the light from this GRB would have taken 3.26 billion years to reach us. It took 13 billion years due to the expansion of space.
If expansion would somehow stop now and the galaxy containing the black hole could pump out another GRB of sufficient strength in our direction, the photons would take 30 billion years to reach Earth's vicinity (with Earth probably no longer existing).
If the expansion curve continues as predicted by present theory, those new GRB photons will never reach our location, not even in principle, because the expansion will happen too fast. If expansion somehow slows down again in the future, the photons might perhaps reach our location in the distant future.

The curves on the left give an idea of some of the cosmic distance measures used and how they relate to redshift and to each other. Distances are in Giga-lightyear (Gly) and the redshift (z) is cosmological only.
D-now (top, red) is the proper distance to the source at present (which is also its comoving distance); D-light (middle, cyan) is the lookback time to the source, multiplied by the speed of light; D-then (bottom, blue) is the distance of the source from us when the light left it.
Deeper discussions of these curves (with equations for those engineers who need them in order to comprehend) are available on my website.
BTW, can you figure why the blue D-then curve has its peculiar form - first increasing with z and then decreasing again? It actually approaches the horizontal axis asymptotically as redshift goes very large.
-J
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